Beese Fulmer Investment Management Inc. Decreases Stake in AbbVie Inc. (NYSE:ABBV)

Beese Fulmer Investment Management Inc. lessened its stake in AbbVie Inc. (NYSE:ABBVGet Rating) by 2.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 40,743 shares of the company’s stock after selling 1,075 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in AbbVie were worth $6,605,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Marino Stram & Associates LLC lifted its stake in AbbVie by 3.5% during the fourth quarter. Marino Stram & Associates LLC now owns 12,718 shares of the company’s stock worth $1,722,000 after purchasing an additional 431 shares during the last quarter. Oldfather Financial Services LLC purchased a new stake in AbbVie during the fourth quarter worth approximately $250,000. International Assets Investment Management LLC lifted its stake in AbbVie by 237.7% during the fourth quarter. International Assets Investment Management LLC now owns 185,150 shares of the company’s stock worth $1,696,000 after purchasing an additional 130,327 shares during the last quarter. RB Capital Management LLC lifted its stake in AbbVie by 3.1% during the first quarter. RB Capital Management LLC now owns 9,115 shares of the company’s stock worth $1,478,000 after purchasing an additional 273 shares during the last quarter. Finally, Edmonds Duncan Registered Investment Advisors LLC purchased a new stake in AbbVie during the fourth quarter worth approximately $223,000. Institutional investors and hedge funds own 67.03% of the company’s stock.

Shares of NYSE:ABBV opened at $147.56 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.82 and a debt-to-equity ratio of 3.89. AbbVie Inc. has a 52-week low of $105.56 and a 52-week high of $175.91. The stock’s fifty day simple moving average is $150.17 and its 200-day simple moving average is $146.18. The company has a market capitalization of $260.75 billion, a P/E ratio of 21.17, a P/E/G ratio of 4.04 and a beta of 0.83.

AbbVie (NYSE:ABBVGet Rating) last released its earnings results on Friday, April 29th. The company reported $3.16 EPS for the quarter, beating the consensus estimate of $3.15 by $0.01. The firm had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.61 billion. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.95 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc. will post 14.02 earnings per share for the current year.

In other AbbVie news, EVP Henry O. Gosebruch sold 83,960 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $155.00, for a total transaction of $13,013,800.00. Following the completion of the sale, the executive vice president now directly owns 16,623 shares in the company, valued at $2,576,565. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Michael Severino sold 100,000 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $150.28, for a total value of $15,028,000.00. Following the sale, the insider now owns 152,103 shares of the company’s stock, valued at $22,858,038.84. The disclosure for this sale can be found here. Insiders sold 463,761 shares of company stock valued at $70,609,771 over the last quarter. Insiders own 0.08% of the company’s stock.

Several research analysts have commented on the company. Wells Fargo & Company lifted their price target on AbbVie from $165.00 to $200.00 in a research report on Monday, May 2nd. The Goldman Sachs Group lifted their price target on AbbVie from $122.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 12th. Barclays lifted their price target on AbbVie from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 12th. UBS Group lowered AbbVie from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $129.00 to $147.00 in a research report on Monday, February 28th. Finally, Morgan Stanley lifted their price target on AbbVie from $142.00 to $192.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.75.

About AbbVie (Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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